The Advisor-Associate Relationship

Ways to start creating a positive team dynamic and a work environment that will attract top performers.

By

Tim Ursiny, Advantage Coaching & Training

October 17, 2016

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The most transformational thing I ever did for my business was to surround myself with the best team possible. It took some trial and error, and one of the most important learnings was about the relationship between team leader and support staff. (Please note that because different firms use different terminology for team members, we will be using the simple term “associate” to refer to individuals who traditionally were referred to as support staff.)

I combined my experience with my own firm with my interactions with financial advisory teams to create two lists. The information below includes feedback from my firm’s associates on what makes us work well as a team.

ENLARGE

Tim Ursiny
Illustration:
Advantage Coaching & Training.

Ten things a team leader can do to create a top performing team:

1. Create an atmosphere of positive accountability and create a model of accountability that is not hierarchical. Staff should be able to hold the team leader accountable to tasks that he or she commits to. This demonstrates that accountability is a gift, not a punishment.

2. Surround yourself with people who share your values, especially concerning how people should be treated and the value of a positive workplace.

3. Delegate effectively. Each person should know their level of responsibility and empowerment and understand the reporting process that will keep the team leader in the loop.

4. Recognize that money is important and pay your staff fairly, but also realize that money is not everything and that group lunches, gifts and words of genuine affirmation are also critical to a good working environment.

5. Provide clear expectations and communicate them regularly.

6. Deal with conflict respectfully, quickly and with the goal of resolution, not blame. Remember that “a team without conflict is a team without passion” so don’t fear conflict, just make sure it is healthy.

7. Understand the strengths and challenges of each member of your team and strive to bring out the best in all of them. Assign the right tasks to the right people in order to maximize their gifts and talents.

8. Trust your support team and let them “fly”; no micro-managing!

9. Don’t sweat the small stuff. When mistakes happen, encourage ownership and improvement, but show an abundance of grace and forgiveness.

10. Listen to your team; make sure they have a voice and part in the team’s vision.

Ten things associates can do to create a top performing team:

1. Realize the incredible value and meaning you provide in dealing with issues that keep your team leader in the “highest and best use” of his/her time. By keeping him or her from doing tasks that do not fit their role or strengths you create more success for the team.

2. Be proactive and do not wait for the team leader to direct you in tasks that you have mastered or to which you know how to find the answers.

3. Be open and non-defensive to feedback and be willing to give your team leader feedback also.

4. Take pride in being part of your team. Remember that you are guardian of the team brand in every conversation that you have with clients, prospects and even your social circle.

5. Care deeply about your clients’ experience and always show respect to those you serve.

6. Maintain and cultivate positive relationships with all team members. Take ownership in creating a positive work environment.

7. Understand your team leader’s style and adapt as best you can to his/her preferred ways of communication and interaction.

8. Take complete ownership for your areas of responsibility. Take any action items or job responsibilities seriously and run with them with confidence and efficiency. Own mistakes without excuse and work to be sure there are systems in place to prevent them in the future.

9. Refuse to participate in any gossip, back-stabbing or any other destructive behavior. Deal with all conflict respectfully and with the appropriate person.

10. Show appreciation for what the team leader does for the team! They may not look like it, but they need affirmation also!

These lists are not exhaustive, but they are certainly a start in creating a positive team dynamic and a work environment that will attract top performers.

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